Bitcoin Cash quanto perpetual swap launched on BitMex

BitMex cryptocurrency exchange has launched BCHUSD 25x quanto perpetual swap on 16 June 2020 at 4 AM UTC timing. This is BitMex’s fourth quanto contract on BitMex and is next to follow introduction of ETHUSD quanto future contract (that was launched on 5th May 2020).

bchusd quanto contract bitmex

Before ETHUSD contact, XRPUSD swap contract was introduced in month of February this year.

In this Bitcoin Cash‘s BCH USD quanto swap, a fixed Bitcoin multiplier is used regardless of current price of BCH. This will allow users on BitMex to short / long BCH without even touching BCH or USD. Due to this quanto property, BCH USD swap trading will be done at either premium or discount compared to spot price of BCH USD.

Details of this BCH USD contract on BitMex.

* Symbol: BCHUSD
* Bitcoin Multiplier: 0.000001 XBT (100 Satoshis)
* XBT Contract Value: BCHUSD Price * Bitcoin Multiplier (100 Sat/$1)
* Underlying: .BBCH
* Max Leverage: 25x
* Maker Fee: -0.025%
* Taker Fee: 0.075%
* Base Initial Margin: 4.00%
* Base Maintenance Margin: 2.00%

BCHUSD quanto contract will go live on 15th June 2020 but won’t be tradable before 16th June 2020. BCH USD is already available on testnet with full contract deployed.

 

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